Thoughtful post advancing the debate between MMT and Austrian economics. It's definitely creating a buzz in the blogosphere.
Read it CNBC Net Net
Modern Monetary Theory and Austrian Economics
by John Carney- CNBC senior editor
I will likely take up some of the points raised in future points here, since they are also related to anarchism-libertarianism. Obviously, the major sticking point between MMT and anarchism-libertarianism is that MMT is policy oriented and its prescriptions rely chiefly on fiscal policy, although that is much more of a problem in the eyes of Libertarians aka Anarcho-capitalists than left libertarians aka Anarcho-socialists.
UPDATE: Austrian economist Edward Harrison who has adopted MMT has posted on MMT several time in the past on MMT.
MMT For Austrians
Economics 101 on government budget deficits
Hyperinflation in the USA
MMT'ers also responded to the criticism of MMT by Prof. Robert Murphy from the vantage of Austrian economics. The links can be found at the MMT Wiki here. See the replies in the comments.